Gifts of real
estate frequently save you thousands of dollars
in income or estate taxes. We accept gifts of
residential, commercial, or undeveloped real
estate. Gifts of real estate secure a charitable
income tax deduction for you, based on the fair
market value of the property, with no capital
gains liability for the transfer.

What is a
gift of real estate?

If the property
is a long-term asset (held for over one year),
you receive a charitable income tax deduction
based on the appraised value. You may apply the
deduction for up to 30 percent of your adjusted
gross income and carry it forward for up to five
additional years. Furthermore, you are freed
from paying real estate taxes, maintenance
costs, insurance, and capital gains taxes on the
property’s appreciation. You also avoid capital
gains taxes on the transfer and remove the asset
from your taxable estate.

What if I’m
still using my real estate?

You can
irrevocably deed a residence (such as your home,
cabin, or farm) to us but reserve the right to
use it during your lifetime. This arrangement
creates an immediate income tax deduction and a
federal estate tax deduction.

What if I
need income?

Your real
estate gift can generate income for you by
funding a life income gift, such as a charitable
remainder unitrust.

Another option
is a bargain sale. In this case, we consider
purchasing property from you for a price lower
than its appraised value. We receive the
property, and you receive cash plus a tax
deduction.

What we need
from you.

We will
gratefully review your gift possibility and
evaluate the condition and marketability of the
property.

You will
need to obtain a philanthropy title report
and an independent appraisal.

Our
advisors will inspect the property and
complete an environmental checklist. We may
need to conduct a phase one environmental
study in some cases.

The IRS
requires an independent appraisal to
establish the fair market value of the
property. We can assist you in following the
IRS procedures.